Rowan says hyperscaler debt is not a concern given their massive cash flows from diverse businesses.
“They have massive amounts of cash flow coming from lots of other businesses. And if I am worried about the debt of hyperscalers, the economy and The US have way bigger issues.”
Rowan predicts five tech companies will be among ten largest investment-grade issuers within five years.
“The 10 largest issuers of IG five years from now, if everything holds, are gonna be five large tech companies and five large banks.”